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FINANCIAL SECTOR: OPPORTUNITIES FOR INVESTMENT KENYANS CONNECT 2012 EVENT BY Prof. Njuguna Ndung u, CBS GOVERNOR CE

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FINANCIAL SECTOR: OPPORTUNITIES FOR INVESTMENT KENYANS CONNECT 2012 EVENT BY Prof. Njuguna Ndung u, CBS GOVERNOR CE

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    3. 07/08/2012 3

    4. 4 SPECIAL FOCUS: BANKING Banking sector holds assets worth 63% of GDP. There are 43 banks with varying market niches – segmented market. Has potential to increase formal sector employment beyond the current share of 1%. Developing and deepening faster than the overall economy. Financial Infrastucture has enabled financial inclusion and new financial products like Infrastructure Bonds find a place in the market. Retail banking services utilizing the mobile phone technological platform with success.

    6. 6

    7. Kenyan Banks Expansion to the EAC Region 7

    11. 11 INFRASTRUCTURE BOND MARKET TRADING

    12. There is a Benchmark Bond Program for all other bonds: only that Infrastructure Bonds are a special case with special focus and incentives. Since the introduction of Automated trading of Bonds in late 2009, the secondary market has been revitalized. In 2010 & 2011, the bonds market transacted Ksh 894 billion or US$ 10.38billion. Settlement of Bonds now takes a maximum of 3 days. Bonds are transacted in a safe environment with minimal risks of fraud. Currently Diaspora investors can trade securities if they hold nominee CDS accounts with Commercial banks or Investment Banks. 12 TREASURY BOND MARKET TRADING

    13. TREASURY BILL MARKET RATES 13

    17. F.A.Qs: HOW TO OPEN AN INVESTMENT (CDS) ACCOUNT Visit the Central Bank of Kenya website http://www.centralbank.go.ke/securities/KenyansAbroad.aspx and download mandate card. Print the appropriate mandate card and fill out your details. Attach: A recent coloured passport size photograph and A copy of investor’s Kenyan National Identity Card (ID) or Passport. These documents must be certified by your Bankers. Take the filled CDS mandate card to your Commercial bank for certification. The investors Commercial bank will certify the completed CDS mandate card by way of appending the bank’s stamp and signatures of two of their authorized signatories on the space provided. 17

    18. F.A.Qs: HOW TO OPEN AN INVESTMENT (CDS) ACCOUNT Continued… Affix a company seal for corporate applicants. Scan the completed CDS mandate card and email to applications@centralbank.go.ke Send the physical mandate and attachments by post to The Director, Financial Markets Department Central Bank of Kenya P.O. Box 60000-00200, Nairobi, Kenya N/B – CDS account will only be opened after receipt of the original documents. Once the CDS account is open, investor will be notified of the CDS account number via email as provided on the CDS mandate card submitted to CBK. A formal notification letter will also follow. 18

    19. F.A.Qs: HOW TO BID Download the bond application form at http://www.centralbank.go.ke/securities/KenyansAbroad.aspx. Fill out the following details: ? Issue Number ? Duration ? Value date ? Total Face Value - Amount the investor wishes to invest in Kenya Shillings Investor’s details Append a signature on the application form and submit online or scan and email toapplications@centralbank.go.ke or fax to +254202863726/3666 19

    20. F.A.Qs: Successful Bidders All successful applicants will be notified of the allocation and Amount they are required to pay by email provided as provided on the CDS mandate card. Alternatively they may contact Central Bank of Kenya either via email comms@centralbank.go.ke or ndo@centralbank.go.ke or Tel No. +254-020-2860000. MODE OF PAYMENT FOR SUCCESSFUL BIDS 1. Deadline for payment for successful bids is the following Monday at 2.p.m Kenyan time. 2. All successful applicants will be required to pay the exact payable amount (no less, no more) 20

    21. Current Infrastructure Bond on Sale: IFB1/2011/12 21

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